Stocks mixed, havens rise on Ukraine risk
BNN Bloomberg
Stocks were mixed on Thursday as traders weighed geopolitical developments in Ukraine and a flurry of corporate earnings.
Stocks were mixed on Thursday as traders weighed geopolitical developments in Ukraine and a flurry of corporate earnings.
U.S. equity futures pared declined, while Europe’s Stoxx 600 Index fluctuated. Energy companies underperformed as crude oil fell. Havens such as the yen and gold pushed higher. Government bond yields retreated and the dollar was steady.
Russia’s Foreign Ministry denied a claim by the U.S. and Britain that it’s added as many as 7,000 troops to what President Joe Biden has said are around 150,000 soldiers already near Ukraine’s borders. European Union leaders are discussing the Russia tensions in Brussels, before Group of Seven foreign ministers meet in Munich on Saturday.
The Kremlin has repeatedly denied any plans to invade its neighbor.
Nvidia Corp. dropped in U.S. premarket trading as the most valuable U.S. chipmaker failed to impress investors with its latest earnings and forecast. By contrast, Cisco Systems Inc., DoorDash Inc. and Walmart Inc. jumped after reporting.
In Europe, Nestle SA dropped after warning profitability may decline for a second year and Swedish cloud communications firm Sinch AB fell after reporting weak growth. Reckitt Benckiser Group Plc jumped after forecasting profit margin growth, while Kering SA gained as Gucci sales surged past pre-pandemic levels.
